Europe Chart Pack Second wave delays the recovery The extension of lockdowns has dashed hopes of an early rebound in economic activity. Instead, the economy is likely to contract in the first quarter of this year. After falling quite steeply at the... 7th January 2021 · 12 mins read
Nordic & Swiss Chart Pack SNB not out of the woods yet As well as being a game-changer for economic prospects next year, the positive news on the vaccine front has also helped to ease the upward pressure on the Swiss franc against the euro. The franc... 11th December 2020 · 5 mins read
Europe Chart Pack Vaccines to prompt rapid growth in 2021 and 2022 Euro-zone GDP looks set to fall in Q4, but the prospect of vaccine rollouts has significantly improved the outlook. We think that containment measures will be scaled back when the most vulnerable... 4th December 2020 · 12 mins read
Nordic & Swiss Chart Pack Vaccine offers hope, but clouds darken over Q4 The vaccine offers hope of faster growth next year than we have factored into our current forecasts. However, the recent surge in virus cases in Switzerland, the rising strain on the healthcare sector... 12th November 2020 · 5 mins read
Europe Chart Pack New lockdowns weighing on activity and inflation Euro-zone economic activity looks set to slow sharply again in November and to remain weak for a while beyond that. The number of patients in intensive care units is rising rapidly and we suspect that... 5th November 2020 · 12 mins read
Nordic & Swiss Chart Pack Recoveries slowing, but Nordics are still well placed The slowdown in the pace of monthly GDP growth in Norway in August was driven in large part by a fall in consumer spending. The post-lockdown spending splurge on goods appears to have peaked before... 13th October 2020 · 5 mins read
Europe Chart Pack Second wave hitting growth prospects The reimposition of coronavirus restrictions has caused the recovery to stall – if not go into reverse in many countries – with France and Spain most affected. There are tentative signs that the... 7th October 2020 · 12 mins read
Nordic & Swiss Chart Pack Norway’s fading rebound a warning sign for others Given Norway’s decision to re-open its economy comparatively early, its post-lockdown experience has been watched closely for clues as to how other economies could expect to fare. The latest monthly... 11th September 2020 · 5 mins read
Europe Chart Pack Recovery slows and inflation turns negative The rebound phase has now come to an end. Retail sales declined in July and both the business surveys and high frequency data suggest that economic activity levelled off in August. Of course, the... 4th September 2020 · 12 mins read
Nordic & Swiss Chart Pack Recovery on track after comparatively shallow slump Compared to many of the larger euro-zone countries, the coronavirus remains relatively well under control in the Nordic countries and Switzerland. With the exception of Denmark, there are at this... 13th August 2020 · 5 mins read
Europe Chart Pack Growing risk of a second wave The economy is set to rebound strongly in the current quarter after its 12% slump in Q2, even if there is no further increase in GDP in August and September. Indeed, some of the high frequency data... 6th August 2020 · 12 mins read
Nordic & Swiss Chart Pack Nordic economies outperforming the euro-zone The various high-frequency data series that we have been following in our Recovery Trackers have indicated that activity in the Nordic economies has picked up sharply over the past three months... 13th July 2020 · 5 mins read
Europe Chart Pack Surge in bank lending unlikely to last Euro-zone bank lending growth has jumped in recent months, as firms borrowed to tide themselves over while their revenues collapsed during lockdown. (See Chart 1.) At the same time, banks’ willingness... 7th July 2020 · 12 mins read
Nordic & Swiss Chart Pack Nordic economies closer to ‘normal’ than most The latest high frequency data indicate that economic activity in the Nordic economies has continued to recover in recent weeks, with trips to shops and restaurants now close to pre-crisis levels in... 12th June 2020 · 5 mins read
Europe Chart Pack Policymakers getting their act together The latest high frequency data show that economic activity has picked up a bit in the past few weeks. Consumers have been returning to the shops and restaurants. But some sectors such as tourism and... 5th June 2020 · 13 mins read
Nordic & Swiss Chart Pack Denmark ahead on the long road back to normality The estimates of Q1 GDP that have been released so far have been subject to all manner of health warnings and are liable to be revised, potentially significantly, over the coming quarters. Nonetheless... 14th May 2020 · 5 mins read
